FMC earnings rise on solid ag, biopolymers results

3:21 PM MDT | April 30, 2013 | Vincent Valk

FMC today reported first-quarter net income up 10% year-on-year (YOY), to $130.9 million, on sales up 5%, to $990.2 million. Excluding special charges, adjusted earnings totaled $1.10/share, slightly ahead of analysts’ consensus of $1.08/share, as reported by Thomson Reuters. The company is also raising its full-year 2013 earnings estimate about 2%, to $3.93-$4.07/share due to expected volume growth and strong market conditions in its agricultural business, as well as growth from capacity expansions in biopolymers. Agricultural products...